What Do Snow Forecasts Have in Common with the Value of Your Home?
This week the Bristow and surrounding Northern Virginia area have been hearing about an impending snow storm. This storm was to start Saturday night and go into Sunday afternoon. Wednesday afternoon forecasts showed the snow's total accumulation between six and eight inches. A check of projected accumulation yesterday evening showed only one to two inches. With the storm moving into the area within hours the forecast changed to six to ten inches total accumulation. Now, as the storm has been going for a few hours, the forecast says for to eight inches of snow. We'll know tomorrow afternoon what's right, but my goodness, the predictions have been all over the map.
So what does this have to do with the value of your home? Asking a real estate agent what your home is worth is only as good as the current information that agent has in hand. To give someone an accurate representation of value a real estate agent needs to know what the demand for that home is, what the competition is and what similar homes sold in the recent past. All of that stuff is constantly changing, just like weather patterns. You can't really get an accurate prediction of your home's value for six months from now with today's data. Who knows what your competition will then, or what the most recent sales will report or what buyer demand will be.
The best you can do is know the value of your home right now. And all those snow accumulation predictions were made with whatever data was available then. Of course, just like the value of your home, the most recent to the impending storm, or during the storm's start, will be the most accurate.
To get the best advice on the value of your home, it is also important to talk to an experienced local agent, preferably one that does this for a living. Agents that work this job on the side may not have the amount of experience in the day to day marketplace. Just like any other job, the ones that are present for the most work, know the most about the job.
When it comes to knowing your Bristow, Gainesville or Haymarket home's value, I am a very experienced local agent. I've been at this since 2005 and can give you the most accurate information along with an interpretation of that data based on the current rhythm of the market place. When you want to know your home's value, call me anytime. Just realize, I'm giving you value based on selling NOW. I can't predict the future, but I'm happy to do a quick CMA for you anytime.